Introduction to the Economics of Technology With Taskmaster4450
In the latest Tech Talk with @taskmaster4450, we talked about the economics of technology and how it impacts the world in the past, present and future.
In this first podcast episode from the series we’re doing on this topic, we introduce the concept and define what the economics of technology means.
We also tie this idea into a current global event that many people (especially those in the crypto space) are watching with a close eye: money printing and hyperinflation.
While many people expect a massive degree of hyperinflation in the U.S. Dollar, we talk about the vital role that technology plays in offsetting that inflation.
The central point of this conversation is that the pace of technological innovation - whether you’re looking at cryptocurrencies and blockchain or consumer electronics like smartphones, etc. - is happening so rapidly that it is creating entirely new economic impacts that can’t be measured by old standards & metrics.
One thing that many of us often laugh at is the opinion of analysts/investors on tech companies. Look at CNBC or look to investors like Warren Buffett and see how they have done in analyzing the impact of tech companies.
Buffett got into Apple only in the last few years after much of Apple’s growth had already taken place.
Analysts on CNBC completely miss the valuation of Tesla and why the company has massive potential.
All of this and more tie directly into the idea of the economics of technology and how we simply don’t have the right framework and tools to measure the exponential impact that technology makes on the global economy.
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